According to documents filed in the Federal Court in Sydney, the Knights owe more than $1.4 million to the Tax Office, the Jets owe more than $1 million, while Hunter Sports Group is $184,000 in the red.

The Tax Office has applied for a liquidator to be appointed for the Knights and Jets and Hunter Sports Group. But FFA and the NRL said they were confident the future of each club under their respective authority was not in jeopardy.

FFA said the Jets would continue to remain viable under Tinkler's ownership. ''FFA has been given assurances by Hunter Sports Group, owner and operator of Newcastle Jets, that the club's operations will not be affected,'' it said.

Jets chief executive Robbie Middleby said: ''Our main concern at the Newcastle Jets at the moment is that the players and staff in Perth have their minds on the job and to ensure the Newcastle Jets have a successful 2012-13 season.''

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Tinkler has reportedly failed to make player payments to the Knights on time, but Jets players said this had not happened to them.

Jets stand-in captain Ruben Zadkovich said: ''It's not really something the players can have any input into … things will either work out or won't.

''I don't think the Newcastle Jets are in any danger at the moment. We've just got to focus on the football and let the off-field dramas sort itself out.''

Perth Glory will try to take advantage of the financial uncertainty surrounding the Jets when the two sides meet at nib Stadium on Friday night.

Interim NRL chief executive Shane Mattiske said the guarantees put in place when Tinkler took ownership of the Knights in 2011 would ensure the club remained viable.

''In relation to the ownership by Hunter Sports Group, guarantees have been put in place by the commission to safeguard the Knights position,'' he said. ''Those safeguards were a condition of ownership and are there to ensure the club's future.''

A $20 million bank guarantee was a condition of Tinkler's privatisation of the Knights and the granting of their NRL licence. It is understood the Jets are not covered by a similar safety net. Knights coach Wayne Bennett is employed by HSG on a contract worth more than $1 million a season, which would be placed in doubt in the event of Tinkler losing control. While Bennett would almost certainly coach the Knights next season even without Tinkler at the helm, the final two seasons of his contract would be clouded.

HSG said it had not been advised of the ATO's move to appoint a liquidator. ''We are surprised by the move by the ATO as we have not received notification of this move,'' a statement said. ''We advise that any outstanding sum will be paid as soon as possible - well before the reported hearing date next February.''

Tinkler's racing enterprise is also struggling, scrambling to sell stock and pare back his involvement.

The Victoria Racing Club and Melbourne Racing Club have sponsorship arrangements with Tinkler's Patinack Farm. The group also has naming rights to Caulfield's Blue Diamond Stakes. Patinack has wound back its involvement in Victorian racing to slash its costs and has vacated some 50 stables at Flemington.